Florida Statutes 710.107 – Other transfer by fiduciary
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(1) Subject to subsection (3), a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to s. 710.111, in the absence of a will or under a will or trust that does not contain an authorization to do so.
(2) Subject to subsection (3), a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to s. 710.111.
(3) A transfer under subsection (1) or subsection (2) may be made only if:
(a) The personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;
Terms Used In Florida Statutes 710.107
- minor: includes any person who has not attained the age of 18 years. See Florida Statutes 1.01
- Trustee: A person or institution holding and administering property in trust.
(b) The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and
(c) The transfer is authorized by the court if it exceeds $10,000 in value.